Source: Wind Secondary sales 7-day moving average - Shanghai - 200 400 600 800 1,000 1,200 1-Jan 1-Feb 1-Mar 1-Apr 1-May 1-Jun 1-Jul 1-Aug 1-Sep 1-Oct 1-Nov 1-Dec 2023 2024 6 10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 90,000 100,000 0 20 40 60 80 100 120 140 Sep-21Oct-21Nov-21Dec-21Jan-22Feb-22Mar-22Apr-22May-22Jun-22Jul-22Aug-22Sep-22Oct-22Nov-22Dec-22Jan-23Feb-23Mar-23Apr-23May-23Jun-23Jul-23Aug-23Sep-23Oct-23Nov-23Dec-23Jan-24Feb-24Mar-24Apr-24May-24Jun-24Jul-24Aug-24Sep-24Oct-24Nov-24Dec-24 ...

Other Important Disclosures INDUSTRY COVERAGE: China Healthcare Everest Medicines Ltd (1952.HK) E (03/15/2024) HK$46.50 Livzon Pharma (000513.SZ) U (10/19/2018) Rmb37.78 | --- | --- | --- | |------------------------------------------------------------------------------|-------|-------| | Livzon Pharma (1513.HK) U (12/16/2021) HK$26.75 | | | | Luye Pharma Group (2186.HK) U (07/26/2021) HK$2.14 | | | | Ocumension Therapeutics (1477.HK) E (03/15/2024) HK$4.47 | | | | RemeGen Co., Ltd. (9995.HK) E (05/08/2024) ...

ab 23 December 2024 Global Research China Economic Comment China Weekly: Robust Dec momentum, mixed Nov growth, lower CGB yields Our UBS China Activity Tracker shows a largely robust growth momentum in December. 30-city new property sales growth moderated to 15% YoY in the first 21 days of December (vs 20% YoY in November), with tier-1 cities recording much stronger YoY growth than lower-tier cities (see Figures 3-5). In particular, 30-city property sales growth decelerated to 5% YoY in the 3rd week on a hi ...

demand improvement FPGA cycle troughed in mid 2024, and we think the overall market can return to growth in 2025. Although Anlogic is well positioned as a leading FPGA player in China benefiting from the localization trend, we stay EW given its sub-scale revenue and loss making status. Expect growth in 2025 to benefit from the localization trend: Four of China's top industry associations said that Chinese companies should be wary of buying U.S. chips as they are "no longer safe" and buy locally instead (lin ...

-20.0 -15.0 -10.0 -5.0 0.0 5.0 10.0 -40 -30 -20 -10 0 10 20 30 40 50 60 2008 2010 2012 2014 2016 2018 2020 2022 2024 ($bn) ($bn) Non-Dealer Positioning (4Wk Moving Average) All itraxx Main Series All iTraxx XO (RS) Net Sellers of Protection Net Buyers of Protection Global Credit: What We're Watching Asia Credit Demand December 23, 2024 Global Credit: What We're Watching | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |---------------------|------------ ...

December 23, 2024 12:52 PM GMT Weekly primary unit sales in 50 cities were +5.0% YoY (vs. +31% YoY last week) and +5.9% WoW for the week ended December 22: Tier 1 city sales were +3.3% YoY (vs. +71% YoY last week) but -34% WoW. Tier 2 city sales were +4.5% YoY (vs. +21% YoY last week) and +25% WoW. Tier 3 city sales were +10.3% YoY (vs. +29% YoY last week) but -10.1% WoW. M Update China Property | Asia Pacific Weekly primary unit sales were +5.0% YoY and +5.9% WoW. Weekly secondary unit sales were +58% YoY ...

22 Dec 2024 21:29:36 ET │ 29 pages | --- | --- | |-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------- ...

| --- | --- | |-----------------------------------------------------------------------------------------------------------------------------------------------------------|-------------| | | | | | 190.00 | | | 144.50 | | 12/23 06/24 | 99.00 12/24 | | Target price: 173.00 High: 164.05 Low: 107.69 Current: 143.55 | | | Source: LSEG IBES, HSBC Qianhai Securities estimates | | | Katharine Song* (Reg. No. S1700517120001) Head of A-share Consumer Research HSBC Qianhai Securities Limited kathy.l.h.song@hsbcqh.com.c ...

M Update Source: Bloomberg, Morgan Stanley Research estimates based on price and duration from December 23, 2024 Germany should have the largest extension this month (0.069y) compared to other countries, close to its average December extension of 0.072y. The higher extension is mainly caused by BKO 3.1% Dec-2025 (market value €19.2 billion, weight 1.3%) falling out of the index. 1-5y index will extend by 0.047y. Exhibit 7: December euro extensions by sovereign Morgan Stanley Research 3 United States UK UKT ...

c45a43530f604d12bcb9a82b5aa6b9f6 Buy c45a43530f604d12bcb9a82b5aa6b9f6 Pony AI Inc. (PONY) c45a43530f604d12bcb9a82b5aa6b9f6 Goldman Sachs Pony AI Inc. (PONY) - 5,000 10,000 15,000 20,000 25,000 2025E 2026E 2027E 2028E 2029E 2030E Remote assistant cost TNC cut Depreciation - Vehicle Depreciation - ADK Fleet operation and maintenance (US$)Segment Partners/ Clients 124 396 1,490 3,441 11,401 58,237 180,790 - 20,000 40,000 60,000 80,000 100,000 120,000 140,000 160,000 180,000 200,000 2024E 2025E 2026E 2027E 2028 ...